Public Employees Retirement Association of Colorado Sells 439 Shares of Atlassian Co. (NASDAQ:TEAM)

Public Employees Retirement Association of Colorado lowered its position in Atlassian Co. (NASDAQ:TEAM) by 1.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,187 shares of the technology company’s stock after selling 439 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Atlassian were worth $4,227,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Andesa Financial Management Inc. bought a new stake in shares of Atlassian in the 1st quarter worth approximately $233,000. Hall Laurie J Trustee bought a new stake in shares of Atlassian in the 2nd quarter worth approximately $28,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Atlassian in the 2nd quarter worth approximately $41,000. Meeder Asset Management Inc. raised its holdings in shares of Atlassian by 151.5% in the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock worth $31,000 after buying an additional 147 shares in the last quarter. Finally, WealthPLAN Partners LLC acquired a new position in shares of Atlassian in the 1st quarter worth approximately $43,000. Institutional investors own 53.36% of the company’s stock.

Atlassian Stock Up 0.6 %

NASDAQ TEAM opened at $187.32 on Thursday. The stock has a fifty day moving average of $192.00 and a 200-day moving average of $179.85. The stock has a market capitalization of $48.34 billion, a P/E ratio of -95.57 and a beta of 0.64. Atlassian Co. has a 52 week low of $113.86 and a 52 week high of $215.77. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.43 and a current ratio of 1.43.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of recent research reports. UBS Group initiated coverage on Atlassian in a report on Monday, October 2nd. They issued a “neutral” rating and a $225.00 target price for the company. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a report on Saturday, November 11th. Oppenheimer increased their target price on Atlassian from $200.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $185.00 price target on shares of Atlassian in a report on Friday, August 4th. Finally, Truist Financial dropped their price target on Atlassian from $200.00 to $180.00 and set a “hold” rating for the company in a report on Friday, November 3rd. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $202.19.

Insider Activity

In other news, President Anutthara Bharadwaj sold 4,560 shares of Atlassian stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $184.97, for a total value of $843,463.20. Following the completion of the sale, the president now directly owns 181,599 shares of the company’s stock, valued at approximately $33,590,367.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Anutthara Bharadwaj sold 4,560 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $184.97, for a total value of $843,463.20. Following the transaction, the president now directly owns 181,599 shares in the company, valued at approximately $33,590,367.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $185.80, for a total value of $1,531,177.80. Following the completion of the transaction, the chief executive officer now owns 238,989 shares in the company, valued at $44,404,156.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 348,498 shares of company stock valued at $67,024,141. Company insiders own 40.48% of the company’s stock.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.